Anchored VWAP Study of Glenmark Pharma

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[May 22, 2020, Friday EOD analysis]

Anchored VWAP Analysis self explanatory in Chart. Additional Pointers:

- Range Breakout in place
- Breakout accompanied with Expanding volume signaling the Range was an Accumulation Zone
- Stock is also above 5 day EMA , 20 day EMA, 50 day EMA, 65 day EMA (ALL are Sloping upwards and above each other respectively)
- ADX is above 25 on daily chart (trending)

Concern:
-200 day EMA is Sloping down but stock price is above it
- 100 day EMA is above 50 & 65 day EMA but sloping up

Key Target Levels:
1) 370-75
2) 385
3) 399

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ملاحظة

correction: It is 200 day MA & not 200 day EMA which I was referring to

Talking about the 200 day EMA:
- the stock price is below it and facing stiff resistance at it since the range was created
- 200 day EMA is also downward sloping

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